Zuora is Ranked #1 in the MGI Research Agile Billing Solutions Market
SAN MATEO, Calif.–(BUSINESS WIRE)–Zuora,
Inc. (NYSE: ZUO), the leading cloud-based subscription management
platform provider, today announced that it was named the top-rated
vendor among 16 – including traditional ERP providers such as Oracle,
SAP and Amdocs – in the latest MGI Research Agile
Billing Solutions Buyer’s Guide.
The world’s largest companies are adopting the subscription business
model to generate new recurring revenue growth. In fact, 16 of the
Fortune 100 are now Zuora®
customers. According to MGI
Research forecasts, the total addressable market for software that
manages recurring revenues is expected to exceed $172 billion by 2022.
Companies with legacy ERP systems designed for a product economy are
finding these new recurring revenue models are growing with lots of
dynamic change that creates downstream pain for all roles in the finance
organization. “The reason that traditional ERP systems are not able to
fill the capability void in billing stems from their fixed, often
brittle, and coarsely granular approach to anything outside general
ledger,” wrote authors of the MGI Research report.
“This creates a need for a modern platform that can connect an
organization’s front facing CRM system with their backend ERP finance
system to automate all order-to-revenue processes in the Subscription
Economy,” said Andrew Dailey, Managing Director at MGI Research.
According to the report, “Agile Billing becomes an agenda item when
organizations realize that they can no longer match their competition in
terms of time-to-revenue, when they are unable to offer flexible new
pricing plans and when their ability to accurately invoice, collect,
report, disclose and forecast revenue is in question.”
“In the Subscription Economy, finance organizations must adopt a
new system that enables them to evolve their pricing, billing,
collections, and revenue accounting — all while removing operational
inefficiencies and driving more efficient growth. That’s why we’re
seeing the rise of a third cloud between CRM and ERP to address the
growing needs of companies seeking growth in the Subscription Economy,”
said Tom Krackeler, SVP of Products at Zuora.
And compared to other SaaS-based solutions in the market, the authors of
the report stated, “Zuora brand visibility, funding, pure-cloud
architecture, deployment methodology, and size of channel separate Zuora
from the rest of the next-generation, SaaS-only suppliers. When compared
to the early entry by Salesforce, the Zuora solution is broader, deeper,
more mature and backed by a more seasoned team.”
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform
that functions as a system of record for subscription businesses across
all industries. Powering the Subscription Economy™, the Zuora® platform
was architected specifically for dynamic, recurring subscription
business models and acts as an intelligent subscription management hub
that automates and orchestrates the entire subscription order-to-cash
process, including billing and revenue recognition. Zuora serves more
than 1,000 companies around the world, including Box, Komatsu, Rogers,
Schneider Electric, Xplornet and Zendesk. Headquartered in Silicon
Valley, Zuora also operates offices in Atlanta, Boston, Denver, San
Francisco, London, Paris, Beijing, Sydney, Chennai and Tokyo. To learn
more about the Zuora platform, please visit www.zuora.com.
© 2019 Zuora, Inc. All Rights Reserved. Zuora, Subscription Economy,
Powering the Subscription Economy are trademarks or registered
trademarks of Zuora, Inc. Other names and brands may be claimed as the
property of others. Nothing in this press release should be construed to
the contrary, or as an approval, endorsement or sponsorship by any third
parties of Zuora, Inc. or any aspect of this press release.
SOURCE: Zuora Financial